Income Tax QnA - Page No 305

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Suresh S. Tejwani

13 January 2025 at 11:24

Rectification or revise return?

1) If return is filed and intimation is received and demand for capital gain(u/s 111A) is paid then whether need to rectified return or revise the return.? for that is json utility available on the portal?

2) If the demand is not paid for capital gain(u/s 111A) then what do in that case also whether need to rectified return or revise the return.? for that is json utility available on the portal?

Akshit Jain

13 January 2025 at 01:25

Joint Mutual Fund Investment Reporting on AS26/AIS

In the joint mutual fund investment case, is the mutual fund investment reported on AS26 and AIS of only the first/primary MF investor or both investors?

Daya

12 January 2025 at 19:45

Are part of Annual turnover for Audit purpose of 9 and 9C

are included Nil Rated, Exempted or Non GST supply for Audit purpose.

Daya

12 January 2025 at 19:20

Are reflected in 2B in GST portal

are GST input available of imported Goods , RCM and ISD in GST portal 2B.

Daya

12 January 2025 at 19:08

How to make any party sales or purchase recociliation

How to make any party sales reco or purchase reco.please reply.

Daya

12 January 2025 at 18:54

Is E-way bill necessary for NIL rated,exempted goods and Non GST supply

whether E-way bill necessary for the above mentioned supply.

Daya

12 January 2025 at 18:43

Is RCM under GST applicable

is RCM under GST applicable on NIL rated,exempted and non GST suplly items.

Venkateshwarlu Pulluri

12 January 2025 at 12:32

E invoice mandatory for taxable value in a year 15 lakhs where as aggregate turnover is 6 crores

Dear sir/s,
one assesee failed to issue e invoice in this case taxable value in a year 12 lakhs where as aggregate turnover is 6 crores, for the year FY2023-24, BUT uploaded the B2B in GSTR1 accordingly paid tax through GSTR3B,

At present, is it mandatory to raise e invoices for all B2B sales for entire year

kindly guide ...

PRAVIN CHITRODA

12 January 2025 at 12:26

ITC availability for BOLERO-HILUX (HIGH AT, M1G) HLXX0

Mr. A has purchased bolero-hilux HLXX0 for his site work like transferring oil barrel from one site to other site, transfer labor from one site to other site. Weather ITC available for above in GST for Mr.A ?

Kollipara Sundaraiah

12 January 2025 at 12:03

Gift transaction huge amount sec 68 provision applicable

Sir,
It assessess senior citizen taxable income rs:5 lacs below yearly f.y.24-25 assessess cash gift to grandson rs:1 crore amount through on bank channel mode paid f.y.24-25 and assessee capital account balance rs:50 lacs show in balance sheet
Question:
Assessess gift amount excess of capital balance sec 68 provision applicable for it act